In this article, we discuss the top 5 dividend stock picks of billionaire George Soros’ fund. If you want to read our detailed analysis of Soros’ hedge fund, go directly to read Top 10 Dividend Stock Picks of Billionaire George Soros’ Fund.
5. VICI Properties Inc. (NYSE:VICI)
Number of Hedge Fund Holders: 47
Dividend Yield as of January 21: 5.30%
Soros Fund Management’s Stake Value: $36,933,000
VICI Properties Inc. (NYSE:VICI), an American real estate investment trust, experienced a positive hedge fund sentiment in Q3. 47 hedge funds tracked by Insider Monkey held a $1.37 billion worth of stake in the company in Q3. In comparison, 37 hedge funds had positions in the company in the preceding quarter.
On December 9, VICI Properties Inc. (NYSE:VICI) announced a quarterly dividend of $0.36 per share. The company has increased its dividend every year since its inception in 2017, becoming one of the best dividend stocks in George Soros’ portfolio. Soros Fund Management started investing in VICI Properties Inc. (NYSE:VICI) during the first quarter of 2018. In Q3 2021, the hedge fund increased its stake in the company by 31%, which accounted for 0.68% of its portfolio.
Appreciating the company’s high-quality gaming portfolio, in January, Berenberg initiated its coverage on VICI Properties Inc. (NYSE:VICI) with a Buy rating and a $35 price target.
4. MGM Growth Properties LLC (NYSE:MGP)
Number of Hedge Fund Holders: 27
Dividend Yield as of January 21: 5.70%
Soros Fund Management’s Stake Value: $37,415,000
MGM Growth Properties LLC (NYSE:MGP) is an American real estate investment trust that invests largely in casino properties. On December 15, the company announced a quarterly dividend of $0.525 per share, a 1% increase from the previous dividend.
MGM Growth Properties LLC (NYSE:MGP) is one of the latest holdings of Soros Fund Management in Q3 2021. The hedge fund held a $37.4 million worth of stake in the company, which accounted for 0.69% of its portfolio. In the past 12 months, MGM Growth Properties LLC (NYSE:MGP) has delivered a 17.8% return to shareholders.
At the end of Q3 2021, 27 hedge funds tracked by Insider Monkey held stakes in MGM Growth Properties LLC (NYSE:MGP), valued at $536.8 million. In the previous quarter, 29 hedge funds had positions in the company, with stakes worth $505.3 million.
3. Energy Transfer LP (NYSE:ET)
Number of Hedge Fund Holders: 29
Dividend Yield as of January 21: 6.65%
Soros Fund Management’s Stake Value: $4,577,000
Energy Transfer LP (NYSE:ET) is an American company that is engaged in natural gas and propane pipeline transport. According to Insider Monkey’s data, 29 hedge funds held stakes in the company in Q3, the same as in the previous quarter. These stakes hold a consolidated value of over $727.7 million.
Energy Transfer LP (NYSE:ET)’s quarterly dividend stands at $0.1635 per share. The company currently spends over $1.9 billion in annual dividends. In Q3 2021, Soros Fund Management held a stake worth over $4.5 million in Energy Transfer LP (NYSE:ET).
In January, Barclays’ analyst Theresa Chen presented a positive outlook on the energy sector in 2022. The analyst set a $13 price target on Energy Transfer LP (NYSE:ET), while maintaining an Overweight rating on the shares.
Miller Value Partners mentioned Energy Transfer LP (NYSE:ET) in its Q2 2021 investor letter. Here is what the firm has to say:
“Energy Transfer LP (ET)rose over the period along with the price of oil climbing 40.59% over the period. The company received positive news that the Dakota Access Pipeline project would not be shut down while the Environmental Impact Statement by the US Army Core of Engineers is drawn up. Energy Transfer reported strong 1Q results with revenue of $17B surpassing expectations for $11.8B with adjusted earnings before income, taxes, depreciation and amortization (EBITDA) hitting $5.04B ahead of consensus of $2.77B. The company raised full year adjusted EBITDA guidance to $12.9-13.3B from $10.6-11.0B previously, with the increase largely related to the benefits realized from Winter Storm Uri. The company paid down $3.7B in debt during the quarter, using strong cash f low to reduce leverage. The company also announced the issuance of $900M in 6.5% Series H perpetual preferreds with the company using the proceeds to repay debt and for general purposes.”
2. Enterprise Products Partners L.P. (NYSE:EPD)
Number of Hedge Fund Holders: 25
Dividend Yield as of January 21: 7.74%
Soros Fund Management’s Stake Value: $4,112,000
Enterprise Products Partners L.P. (NYSE:EPD) is an American midstream natural gas and crude oil pipeline company that provides energy services to consumers. Due to the company’s recent announcement of acquiring privately owned Navitas Midstream, in January, Mizuho raised its price target on Enterprise Products Partners L.P. (NYSE:EPD) to $30, with a Buy rating on the shares.
In Q3 2021, Soros Fund Management held shares worth over $4.1 million in Enterprise Products Partners L.P. (NYSE:EPD), which makes up 0.07% of its 13F portfolio. On January 6, the company announced a quarterly dividend of $0.465 per share, up 6% from the previous dividend. Enterprise Products Partners L.P. (NYSE:EPD) is one of the best dividend stocks in George Soros’ portfolio as it has a 22-year track record of consistent dividend growth.
First Eagle Investment Management held shares worth $61.1 million in Enterprise Products Partners L.P. (NYSE:EPD), becoming its largest shareholder in Q3. Overall, 25 hedge funds tracked by Insider Monkey held stakes in the company in Q3, compared with 28 in the previous quarter. These stakes hold a consolidated value of over $233.2 million.
ClearBridge Investments mentioned Enterprise Products Partners L.P. (NYSE:EPD) in its Q1 2021 investor letter. Here is what the firm has to say:
“While reducing in health care and consumer staples, we increased our exposure to high-quality names in economically sensitive areas of the market. We added to low-cost, high-quality energy names (including) Enterprise Products Partners LP. We are positive on this company’s strong balance sheets, competitive positions and exposure to an economic recovery.”
1. Magellan Midstream Partners, L.P. (NYSE:MMP)
Number of Hedge Fund Holders: 12
Dividend Yield as of January 21: 8.64%
Soros Fund Management’s Stake Value: $3,724,000
Magellan Midstream Partners, L.P. (NYSE:MMP) is an American publicly traded partnership that deals in refined petroleum products and crude oil. In Q3 2021, Soros Fund Management did not change its position in the company and held shares worth over $3.7 million.
In Q3 2021, 12 hedge funds tracked by Insider Monkey held stakes in Magellan Midstream Partners, L.P. (NYSE:MMP), valued at over $92 million. In the previous quarter, 13 hedge funds held stakes in the company, worth over $89 million.
On October 20, Magellan Midstream Partners, L.P. (NYSE:MMP) announced a 1% increase in its quarterly dividend at $1.0375 per share. The company has maintained a 20-year streak of continuous dividend growth and has increased its dividend by 690% since its IPO in 2001. In January, Barclays set a $51 price target on Magellan Midstream Partners, L.P. (NYSE:MMP), with an Equal Weight rating on the shares.
You can also take a look at 10 Dividend Stocks That Have Doubled Their Payouts and 10 Dividend Stocks With the Potential to Grow
